Saraki’s Ikoyi houses not bought with illegal funds - Court rules, rejects EFCC's application

Saraki’s Ikoyi houses not bought with illegal funds - Court rules, rejects EFCC's application

- The Federal High Court in Lagos has rejected the EFCC's bid to get some houses belonging to Saraki forfeited

- According to the court, the EFCC failed to provide evidence that the money used to purchase the properties was a proceed of illegal activities

- The court held that the properties located in Ikoyi, Lagos, were purchased with a credit facility granted Saraki by a bank

PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed

The Federal High Court in Lagos has rejected the EFCC's application for a forfeiture order on the Ikoyi houses of Bukola Saraki.

The court ruled that the houses were not purchased with an illicit fund or proceed of illegal activity as the EFCC had argued, Nigerian Tribune reports.

Legit.ng gathers that Justice Liman Mohammed held that the anti-graft agency did not provide any proof that the money used to acquire the properties was diverted from any establishment related to the Kwara state government.

Subsidy: NLC accuses federal government of paying oil marketers N168 billion
Saraki’s Ikoyi houses not bought with illegal funds - Court rules, rejects EFCC's application

Saraki’s Ikoyi houses not bought with illegal funds - Court rules, rejects EFCC's application
Source: UGC

The judge concluded that the properties were purchased with a credit facility granted Saraki by a bank.

PAY ATTENTION: Install our latest app for Android, read the best news on Nigeria’s #1 news app

In a similar development, a Federal High Court in Abuja has vacated the interim forfeiture order placed on some assets allegedly owned by ex-aviation minister, Senator Stella Oduah.

Justice Inyang Ekwo, in a judgment on Monday, June 8, held that the Economic and Financial Crimes Commission failed to establish a link between the assets and the former minister.

Legit.ng gathers that the EFCC had applied for the interim forfeiture order in furtherance of its investigation of an allegation that Oduah diverted part of the N9.5 billion fund meant for the provision security equipment in some airports during her tenure as aviation minister.

The EFCC had claimed that Oduah allegedly connived with banks officials to divert the fund and used it to procure broadcast equipment for Crystal Television Ltd., newspaper printing press, six dredgers and quarry.

You have case to answer over your certificate - Tribunal tells Bayelsa deputy governor

Justice Ekwo ruled that Crystal Television Ltd and the other affected entities have established the fact of ownership of the assets and that they have no link with the former minister.

The judge consequently vacated the interim forfeiture order, ruling the EFCC's prayer for permanent forfeiture cannot be granted.

Deji Adeyanju asks EFCC to investigate Tinubu | Legit TV

Source: Legit

Online view pixel